Why time, not timing, makes the biggest difference in property investing
A one-cent coin that grows into millions in a month shows why the real power in property investing comes not from chasing hotspots, but from holding quality assets long enough for compounding growth to work.
A $500,000 property purchased at 20, could be fully paid off at 50 and worth as much as $4 million. (Image source: Aspects and Angles/Shutterstock.com)
The Doubling Penny Challenge is an old quiz that highlights the power of compounding growth.
What would you choose? A magic penny that doubles in value every day for a whole month, or a million dollars cash immediately?
Studies found that most people who aren’t familiar with the quiz will choose the million dollars. With smartphones now so easily on hand, we could anticipate that the results could be different now that contenders can manage som…
